TITANIUM Achieves Second CVW™ Horizon Project Milestone
TITANIUM Achieves Second CVW™ Horizon Project Milestone
CALGARY, Alberta, Aug. 17, 2018 -- Titanium Corporation Inc. ("Titanium" or the "Company") (TSXV: TIC) is pleased to
announce the achievement of Milestone 2 for the front end engineering design ("FEED") phase of its CVW™ Horizon Project.
The FEED project is being supported by Emissions Reduction Alberta ("ERA") through the award of grant funding of up to the
lesser of $5.0 million or 50% of engineering design. Titanium and Canadian Natural Resources Limited are funding $1.5 million
and up to $3.7 million, respectively.
ERA funding provided under the ERA Methane Challenge is provided in stages during the FEED project as the Company
meets and reports against predetermined milestones established under the Company's contribution agreement with ERA.
"Our joint Titanium, Canadian Natural, Stantec and IHC Robbins team is making excellent progress with the engineering
design phase progressing very well, on-time and on-budget," commented Scott Nelson, President and Chief Executive Officer
of Titanium. "ERA continues to be a valued funding partner as we continue discussions with Federal and Alberta funding
agencies toward the construction phase of the project."
The FEED project has incurred $3.4 million of costs to the end of June 30, 2018. Project activities during the Milestone 2
period included design basis criteria, initial plot plans, heat and material balances and process flow diagrams for both the
concentrator facility and the minerals separation plant.
About Titanium Corporation Inc.
Titanium's CVW™ technology provides sustainable solutions to reduce the environmental footprint of the oil sands industry.
The Company is working with Canadian Natural on front end engineering design for potential deployment of CVW™ at
Canadian Natural's Horizon oil sands site. The Company's technology reduces the environmental impact of oil sands tailings
while economically recovering valuable products that would otherwise be lost. CVW™ recovers bitumen, solvents and
minerals from tailings, preventing these commodities from entering tailings ponds and the atmosphere; volatile organic
compound and greenhouse gas emissions are materially reduced; hot tailings water is improved in quality for recycling; and
residual tailings can be remediated more readily. A new minerals industry will be created commencing with the production and
export of zircon, an essential ingredient in ceramics. The Company's shares trade on the TSX Venture Exchange under the
symbol "TIC". For more information, please visit the Company's website at www.titaniumcorporation.com.
Disclosure regarding forward-looking information
This news release contains forward-looking statements and information (collectively, "forward-looking information") that
reflects the current expectations of management about the future results, performance, achievements, prospects or
opportunities for Titanium, including statements relating to advantages of the Company's technology and the creation of a
mineral sands industry, as well as relating to the Company's ongoing discussions with Federal and Alberta funding agencies
toward the construction phase of the FEED project. These statements generally can be identified by use of forward-looking
words such as "may", "will", "expect", "estimate", "anticipate", "believe", "project", "should" or "continue" or the negative
thereof or similar variations. Forward-looking information is presented in this news release for the purpose of assisting
investors and others in understanding our objectives, strategic priorities and business outlook, and in obtaining a better
understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate
for other purposes. Forward-looking information, by its very nature, is subject to inherent risks and uncertainties and is based
on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ
materially from our expectations expressed in or implied by such forward-looking information and that our business outlook,
objectives, plans and strategic priorities may not be achieved. In particular, the forward-looking information contained in this
news release is based on the results of our research, pilot programs, FEED and related studies and commercialization efforts
to date, which are further described in our management's discussion & analysis for the year ended December 31, 2017
("MD&A"). The Company has not commercially demonstrated its technologies and there can be no assurance that the FEED
project will prove to be successful nor that such commercialization efforts will be successful, as actual results and future
events could differ materially from those expected or estimated in such forward-looking information. As a result, we cannot
guarantee that any forward-looking information will materialize and we caution you against relying on any of this forward-looking
information. Accordingly, readers should not place undue reliance on forward-looking information.
Additional information on these and other factors are disclosed in our MD&A, including under the heading "Discussion of
Risks", and in other reports filed with the securities regulatory authorities in Canada from time to time and available on
SEDAR (sedar.com). The forward-looking information contained in this news release describes our expectations as of August
17, 2018 and, accordingly, are subject to change after such date. Except as may be required by Canadian securities laws, we
do not undertake any obligation to update or revise any forward-looking information contained in this news release, whether as
a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, contact:
Scott Nelson
President & CEO
Tel: (403) 561-0439
Email: [email protected]
David Feick
Investor Relations, LodeRock Advisors
Tel: 403-831-7557
Email: [email protected]